Thomson Reuters, CryptoCompare join hands to monitor crypto assets 19951
Ashmita Dutta
Jul 31, 2018 at 7:08 PM

Thomson Reuters, a well established mass media company based in Canada, has entered into a partnership with CryptoCompare, a crypto tracking resource. Thomson Reuters, which has an impressive international presence in media will now receive trading information on 50 distinct crypto coins from CryptoCompare.

This data is necessary for the financial platform,  Eikon belonging to Thomson Reuters which is directed towards the institutional investors. In the press release, Reuters' strategy in innovation and blockchain director Sam Chadwick has mentioned, “decline in the price of many of the leading cryptocurrencies during 2018” has not laid any impact on the “increasing demand from our customers for pricing coverage of the major names.

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The data would provide the users to get a holistic view of the market based on crypto assets. This would facilitate proper price prediction with much accuracy and probability. It has been stated in the press release by the CEO of CryptoCompare, Charles Hayter,  "As the digital asset markets mature, we see a fast-growing demand from the institutional investor community for comprehensive, real-time and global market data, which can be trusted as the basis for investment decisions, said Charles Hayter, CEO and Founder of CryptoCompare. We are excited to enter into this partnership with Thomson Reuters, as we have always sought to provide transparency to this market. This partnership provides a great opportunity for the institutional investor community to access not only our data, but also to benefit from our experience and insight."

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An upsurge in  interest has, indeed, been seen among the institutional investors in the current year. Reuters and MarketPsych Data have already entered into a distinct partnership for conducting supervision of cryptocurrency. This has eventually enabled tracking of 100 digital currencies with the help of the data in sentiment data pool of this media company since the last month.

As informed by the press release, the data of Reuters would be derived from “wide variety of trusted exchanges” without mentioning timeframe of the commencement. In March 2018, Bitcoin [BTC] sentiment data was launched by Reuters to the MarketPsych Indices [TRMI]. This enables to deduce data since 400 media sites and news are scanned which are linked with cryptocurrencies.

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